India Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028

India Defense Market Size and Trends, Budget Allocation, Regulations, Key Acquisitions, Competitive Landscape and Forecast, 2023-2028 report provides the market size forecast and the projected growth rate for the next five years. The report covers industry analysis including the key market drivers, emerging technology trends, and major challenges faced by market participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for military platforms over the forecast period.

Indian defense expenditure including pensions increased from $64.3 billion in 2019 to $74 billion in 2023, recording a CAGR of 3.6%. The sluggish growth registered over the historic period is a reflection of economic constraints which have impacted resource availability due to erosion in currency exchange rates. However, even though the country was severely impacted by the Covid-19 economical crisis, the economy continues to show signs of recovery. The country's defense expenditure is anticipated to increase from $80.5 billion in 2024 to $97.7 billion in 2028, reflecting a CAGR of 5%.

Key Highlights

• During the historic period, 2019-23, India's defense expenditure registered a CAGR of 3.6%. The sluggish growth registered over the historic period is a reflection of economic constraints which have impacted resource availability due to erosion in currency exchange rates. However, even though the country was severely impacted by the Covid-19 economical crisis, the economy continues to show signs of recovery. The defense budget increased from $64.3billion in 2019 to $74 billion in 2023. The acquisition budget increased marginally from from $15.2 billion in 2019 to $19.7 billion in 2023.
• The ongoing tensions and security challenges in neighboring countries pose a security challenge to neutral India. The Indian defense modernization programs have historically been fueled by the need to maintain a robust deterrence capability to dissuade hostile countries from threatening its sovereign territory. Indian territorial disputes with neighboring China and Pakistan have continued to spur defense spending over the historic period.
• Military fixed-wing, Missiles and Missile Defense Systems (MDS) and Naval Vessels and Surface Combatants are the top three largest sectors within the Indian defense market. Military fixed-wing is the largest sector within the Indian defense market and is cumulatively valued at $34.7 billion over 2023-28. Transport Aircraft segment, the fastest growing segment within this sector is the only segment contributing to the growth of this sector.

Who Should Buy

• Defence Startups, Original Equipment Manufacturers (OEMs), Defence Planners, Aerospace and Defence Integrators, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
• The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
• The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

Scope

This report offers a detailed analysis of the India defense market with market size forecasts covering the next five years. This report will also analyze factors that influence demand for the industry, key market trends, and challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following:

• India defense budget: detailed analysis of the India 2023 defense budget broken down into market size and market share. This is coupled with an examination of key current and future acquisitions.
• Regulation: the procurement policy and the process is explained. This is coupled with an analysis of the India military doctrine and strategy to provide a comprehensive overview of India's military regulation.
• Security Environment: political alliances and perceived security threats to India are examined; there help to explain trends in spending and modernization.
• Competitive landscape and strategic insights: analysis of the competitive landscape of India's defense industry.

Reasons to Buy

• Determine prospective investment areas based on a detailed trend analysis of the India defense market over the next five years
• Gain in-depth understanding about the underlying factors driving demand for different defense and internal security segments in the India market and identify the opportunities offered.
• Strengthen your understanding of the market in terms of demand drivers, market trends, and the latest technological developments, among others
• Identify the major threats that are driving the India defense market providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
• Channel resources by focusing on the ongoing programs that are being undertaken by the India government
• Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top defense equipment providers in the country. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available